Flutter of an aeroelastic structure is potentially destructive aeroelastic instability. This phenomenon has motivated research within the aeroelastic community to develop methods that can accurately predict aeroelastic instabilities. The Flutterometer method used herein, and as developed by NASA DFRC, is based upon the mu method which has been coupled with wavelet filtering processes in estimating aeroelastic models from flight data. The approach leads to a methodology to predict the occurrence of flutter boundaries, and may prove to reliably predict flutter boundaries during flight tests. An analytical model is used as the first estimate of the aeroelastic structural dynamics, and uncertainty operators are introduced into the system to model variations between the theoretical system and the physical system. The modelling uncertainties are then updated from experimental data. Although the model used did not work well with this particular experiment, a sensitivity analysis was additionally performed and improvements suggested.